30th June 2020: Leading enterprise connectivity platform Yapily has today announced a new partnership with digital wealth manager Moneyfarm, to provide its UK and Italian customers with a frictionless deposit process between their investment portfolios and bank accounts.
By integrating Yapily’s open banking API, Moneyfarm customers will be able to securely deposit into or withdraw funds directly from their investment portfolios; providing a more convenient and enhanced customer experience.
Moneyfarm is a digital wealth management platform that delivers a smart and simple way for anyone to invest their money. The new integration means Moneyfarm users can start investing from Italian and UK bank accounts into their investment accounts, without delay, to gain immediate access to the platform's wealth advice and management.
The use of Yapily’s platform highlights Moneyfarm’s commitment to harnessing the latest open banking technology to improve its customers’ experience and ability to make informed investments.
The partnership further highlights Yapily’s position across Europe as the leading Open Banking infrastructure provider, enabling partners to take advantage of the benefits that open finance can deliver. This includes greater control of finances, as well as an improved, seamless experience across different financial products.
Giovanni Dapra, CEO of Moneyfarm said: “We’ve seen a sizable shift towards open banking, and the benefits that it brings to all our customers in terms of enabling them to make better financial decisions. Yapily’s API technology is unrivalled, and its coverage across Europe is extensive, so this partnership provides us with a scalable solution for customers when making deposits. This contributes hugely to our mission to empower investors globally to make confident choices, so they can create a more financially secure future for themselves.”
Stefano Vaccino, CEO of Yapily said: “We’re proud to see our infrastructure fuelling exciting growth within a number of financial service sectors across Europe. Through partnerships with innovative and customer-focused platforms such as Moneyfarm, we are removing the barriers to services such as wealth management to a wider demographic. This approach is paving the way to a world of greater financial control and wellbeing, enabled by open banking, for all. We look forward to building a long partnership where we can build towards greater access to financial freedom.”
About Yapily: Yapily is an enterprise connectivity platform, enabling companies to seamlessly access users’ financial data. Powering a new era of financial services, Yapily empowers people around the world to receive faster, affordable and personalised products. The company has raised $18.4m funding to date, and over the last six months monthly recurring revenue has grown over 500%.
About Moneyfarm: Founded in 2011 by Paolo Galvani and Giovanni Daprà, Moneyfarm is an international asset management company with a digital approach, specializing in medium-long term investments. With offices in London, Milan, Cagliari and Frankfurt and a team of 130 professionals, Moneyfarm manages the assets of over 45,000 savers (on a basis of over 300,000 active users) at a rate of growth that has always been double-digit year on year. Thanks to the use of digital technologies, Moneyfarm has developed an innovative model that allows it to provide an independent consultancy service and top-quality, simple, transparent and cost-effective asset management at lower costs than those offered by traditional managers. It is regulated by the Financial Conduct Authority (FCA) and supervised in Italy by Consob. The company has as main partners the Allianz group, Poste Italiane, the investment funds Cabot Square Capital, United Ventures, Endeavor and the Sardinia Foundation and is today one of the most financed innovative companies in Italy with a total of over 115 million euros of funding obtained. The company has also entered into important commercial partnerships with Poste Italiane and with Banca Sella in Italy and with Allianz Global Investors in Germany, which sanctioned the expansion of the service also to the B2B2C segment. For more info see www.moneyfarm.com